March 01, 2015 Real Property, Trust and Estate Law

Rents, Refi’s, and Reefer Madness

J. Marcus Painter

To real estate owners, legalization of marijuana has been the deus ex machina filling vacant industrial and retail space while the rest of the commercial real estate market languished in a world of tepid demand, tumbling rents, and expanding vacancies. Some lenders also saw it as a panacea for poor-performing loans during the Great Recession. But the initially curious anomaly of legalized marijuana in a few states has grown into a large economy across the country, which has opened a Pandora’s box of problematic legal issues for landlords and real estate lenders.

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